What are the merits and demerits of a start-up?

Maybe you guys in your life heard many times from your elder that becoming a small owner is more beneficial than becoming a big servant. This statement is true but due to the education system and the systems created by the Britishers people in our country from many years following the crowd and their main goal is to become successful employees.

But due to the global pandemic COVID-19, everybody was hit by it mentally and economically. Now people are focusing on starting their own business whether it is online or offline so that they would remain unaffected next time. Freshers and beginners filling the search engines with a search on how to start a start-up in India. It is a good thing students are also making their mindset as an entrepreneur. There are numerous advantages and disadvantages of start-ups also which is written in detail in this post.

What are the merits of a start-up?

Some of the main advantages of starting a startup are written below. Read all the points for your better understanding.

• Creation of your own wealth

Wealth creation could be the dream of everybody but anyone able to feel this fortune of wealth creation. If you start a business then it's totally in your hands, how you are going to create wealth for yourself. In the initial days, you will get very little money but later you would be the king.

• Create your own working time

When you work for someone else or if you work in some company then you have to follow their time span working. When to come and when to go is all decided by the company administrators. But, in your start-up, you will choose when you are going to come and when you want to work it will totally depend on you.

• Be your own boss

When it's your business then people or employees working on your business would wait for your orders and commands. A single needle would not be moved without your permission. It totally depends on you that how you are going to manage the company and make it profitable. In short, you would be your own boss.

What are the demerits of a start-up?

Some of the main disadvantages of starting a start-up are written below. Read all the points for your better understanding.

• Risk of failure

There is no guarantee that if you start a start-up of your own then it will surely succeed. Many times start-ups go down and there could be huge losses. Whether you have a good idea and you are starting to work on it and at the same time span your competitor started the same idea and if he succeeded then there would be a risk for your failure.

• Initial days are tough

When a startup starts its idea then the people working on it have to face lots of challenges and problems. Even at the initial level, the return on investment is nearly zero and this is a very tough time for any startup owner as they have to work without getting a single penny. All the work that is done on initial days are based on the mindset and thinking of the future and not the present.

• Lack of mentor

A mentor is the first thing that every entrepreneur needs but not everyone is lucky enough to get valuable guidance from mentors. Due to the lack of guidance, many start-ups owners fall down in their field and this may lead to huge failure because they don't even know that they are doing something right or wrong.

Final Words 

Creating a start-up mindset is a great way to flourish your future. A start-up will teach you many real-life skills that you will never earn or learn if you would be working as an employee of any company. Even our government is also promoting the culture of a start-up in the name of making in India. 

So, it is recommended that students should be raised in such a way that in the future they would prefer to become a small owner rather than a big employee of the company. In this way their elders would also be happy, our country will also grow and in the future, we can be a stronger country than ever.

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